Spot Dogecoin exchange-traded funds in the US recorded $2.89 million in net inflows for the week ending September 25. This figure marks the highest weekly inflow since the launch of these products, surpassing the previous record of $2.59 million set in January. The capital influx occurred over three trading sessions on Monday, Tuesday, and Friday.
The surge in investment follows the announcement by Bitwise regarding the liquidation of its Dogecoin ETF, BWOW. The fund is scheduled to cease trading on October 14. Currently, BWOW holds $801,400 in assets and has recorded lifetime net outflows of $1.23 million. Following the exit announcement, Grayscale's GDOG fund saw its cumulative inflows grow from $11.7 million to $15.46 million.
Grayscale currently dominates the sector, holding $13.87 million in assets, which represents approximately 81% of the total assets held by the group. Conversely, the 21Shares TDOG fund experienced a decline in inflows from $1.63 million to $1.03 million. In total, these ETFs now control 0.11% of the total market value of Dogecoin.
Market data indicates that Dogecoin is trading near $0.098 with a total market capitalization of approximately $15.3 billion. For comparison, US spot Bitcoin ETFs attracted $2.39 billion during the same week, a figure significantly higher than the inflows observed for Dogecoin products. After October 14, only two spot Dogecoin ETFs will remain active in the US market.
